Plutus Wealth Management Reduces Stake in Religare Enterprises by 2%

Plutus Wealth Management LLP divested a 2 per cent stake in Religare Enterprises for Rs 170 crore on Monday through an open market transaction. The bulk deal data from the National Stock Exchange (NSE) revealed that Plutus Wealth Management LLP sold 71 lakh shares, representing a 2 per cent stake in Religare Enterprises Ltd (REL). The shares were sold at an average price of Rs 239.05 each, resulting in a transaction value of Rs 169.72 crore.

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Stake Sale and Market Impact

Following the sale, Plutus Wealth Management's shareholding in REL decreased from 6.07 per cent to 3.97 per cent. Meanwhile, Societe General acquired 50.50 lakh shares of REL at an average price of Rs 239 each, amounting to a deal value of Rs 120.69 crore. The identities of other buyers of REL's shares remain unknown.

Shares of Religare Enterprises saw a significant increase, surging by 6.59 per cent to close at Rs 254.90 per share on the NSE.

Nazara Technologies Transactions

In another transaction on the BSE, three entities sold shares of Nazara Technologies for Rs 157 crore through open market transactions. Parijata Trading, Gyaana Retreat & Services, and Fashion Brands India each sold 6 lakh shares in Nazara Technologies. These shares were sold at an average price of Rs 872 each, bringing the total deal size to Rs 156.96 crore.

Venture capital firm TIMF Holdings purchased 12 lakh shares of Nazara Technologies at the same price. However, details about other buyers of Nazara Technologies' shares were not available.

On Friday, Nazara Technologies' stock rose by 1.82 per cent to settle at Rs 884.80 per share on the BSE.

The transactions highlight significant movements in the stakes of both Religare Enterprises and Nazara Technologies, reflecting active trading and investment interest in these companies' shares.